Kentucky Hemp Business & Legal News

Sales of hemp products in Kentucky surged in 2018

Kentucky’s resurgent hemp sector flexed more economic clout in 2018, with processors reporting sharply higher sales and farmers reaping more than twice as much income from their crop. The state’s hemp processors reported $57.75 million in gross product sales last year, compared with $16.7 million in 2017, Kentucky Agriculture Commissioner Ryan Quarles said Monday. Processors […]

Read More

States get busy on hemp as USDA delays national hemp rules until 2020

Energized by the 2018 Farm Bill, which removed hemp from the Controlled Substances Act and places federal regulatory authority with the U.S. Department of Agriculture (USDA), states have been readying their hemp cultivation regulatory plans for approval. But those next steps were put on hold on this week when the USDA confirmed it will not […]

Read More

Chart: Fast-rising CBD still trying to make inroads with mainstream retailers

CBD’s meteoric rise in popularity has hemp growers finding all kinds of market opportunities that don’t exist for THC products, including yoga studios, pet boutiques, gyms and coffee shops – all foreign territory for marijuana-derived products. One Kentucky hemp producer even has CBD products being sold in tractor supply stores; a North Carolina CBD company has […]

Read More

Farm Bill boost: Kentucky hemp acreage more than doubles for 2019

Kentucky’s hemp acreage could more than double in 2019, with state agriculture officials attributing increased registrations to the new Farm Bill. The state says it has licensed more than 42,000 acres for 2019 hemp production, up 163% from 2018, when Kentucky licensed 16,000 acres. Only 6,700 acres were planted for hemp last year, the state […]

Read More

Kentucky submits hemp proposal to USDA for approval under 2018 Farm Bill

Kentucky is first in line to request federal approval of its hemp regulations. State Agriculture Commissioner Ryan Quarles submitted Kentucky’s rules Friday, a day after President Donald Trump signed the 2018 Farm Bill. “Hemp growers, processors and manufacturers deserve swift action so they can proceed with confidence,” Quarles told Bowling Green TV station WBKO. The Farm […]

Read More

GenCanna’s 4th Kentucky hemp facility gets boost from tax incentives

Kentucky hemp grower and CBD manufacturer GenCanna Global is building a fourth factory in Kentucky, a $40 million facility the company received hefty public support for. GenCanna received “several million dollars” in state and local tax incentives to build the factory in Mayfield, in western Kentucky, President Steve Bevan told Hemp Industry Daily. The plant will […]

Read More

Kentucky tobacco company buys stake in hemp manufacturer

Citing increased CBD sales, a Kentucky tobacco company is getting into CBD manufacturing. Turning Point Brands said it is buying an ownership stake in Canadian American Standard Hemp (CASH), a privately held company in Warwick, Rhode Island. CASH, a hemp-derived cannabinoid producer, manufactures white-label CBD tinctures, topicals, capsules and vape products. Turning Point’s move into […]

Read More

MariMed invests $30M in hemp-derived CBD producer

Massachusetts-based MariMed, a multistate cannabis operator, is entering the hemp-derived CBD business with a $30 million investment in a Kentucky company. The company, GenCanna, has contract farmers to grow hemp to its specifications as well as processing facilities to make CBD extracts, concentrates, isolates and other products. GenCanna plans to use the investment to expand […]

Read More

McConnell issues Farm Bill ‘guarantee’ that hemp will make final version

Hemp expansion in the next Farm Bill is a “guarantee,” according to the U.S. Senate’s majority leader. Republican Sen. Mitch McConnell said he’s not sure when Congress will finalize a Farm Bill to get to the president’s desk, but he’s certain hemp will be part of that compromise. “It will be in there, I guarantee […]

Read More

Canadian cannabis company starts US hemp firm, citing looser regulations

Noting hemp’s relaxed oversight compared to marijuana, a Canadian cannabis company has launched a new hemp company and signed a $500,000 CBD deal with a Kentucky hemp producer. Ascent Industries announced the creation of Thirty Eight Hemp Co. to produce CBD products for sale in the United States. Vancouver, British Columbia-based Ascent also inked a […]

Read More

CBD extraction firm snags tax breaks, hiring assistance in Kentucky

Kentucky’s booming CBD industry received an additional boost when the state granted an extraction company roughly $240,000 in tax breaks, plus help finding and training workers. Lexington-based firm Zelios, which opened four months ago, said it plans to double its extraction capacity and create 44 full-time jobs for a total investment of about $2.1 million. Kentucky Gov. […]

Read More